Bitcoin's market capitalization has dropped below $1trn, signaling an immediate correction as the cryptocurrency's bullish run is slowing down.
Bitcoin's currently trading at $52,865.20, down from its all-time high on March 13 when the token briefly hit $60,100.
Based on information published by CoinGecko, Bitcoin is currently sitting at $980bn and has lost $140bn since March 18.
Interestingly, this correction comes at a time when analyst Willy Woo argued that Bitcoin is unlikely to fall below $1trn ever again, citing strong interest by institutional investors.
Bitcoin is experiencing one of its best periods to date. The currency first cracked the $1trn threshold back on February 19. Cryptocurrencies are currently sitting at $1.65trn, CoinGecko reports. The question that most investors face right now is if they should hold or sell out.
The pullback from Bitcoin is evident but the question is if this is an attempt by whales to diminish the coin's value before buying en masse once again. Bitcoin certainly remains a popular recreational token on many platforms.
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